'At What Point Do You Make a Profit?'
Zaslav proclaims a first-ever break-even streaming goal during a head-spinning Hollywood earnings day
On this episode, hosts Janice Min, Tatiana Siegel and The Wakeup’s Sean McNulty take quick measure of entertainment’s giants after another day of wild Q2 earnings calls all about streaming that included Warner Bros. Discovery, Paramount and Lionsgate. Some quantified(ish) what success looks like down the road; others stayed vague. WBD CEO David Zaslav said that HBO Max and Discovery+, which boast a total of 92 million combined subscribers worldwide, will break even as a united service when it adds another 40 million, likely in 2024 or 2025, as $3 billion in “efficiencies” (ouch), start to unroll. Paramount CEO Bob Bakish called their losses “a growth phase” (a $445 million loss last quarter against revenues of $672 million). All begged the hard question: when does streaming investment actually begin to pay off?
Follow us (and like us!) at Apple Podcasts or wherever you listen to your favorite podcasts, and on Twitter. Also please subscribe at TheAnkler.com/subscribe for more podcasts and stories about the entertainment industry.